McDermott International Inc (MDR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of McDermott International Inc (NYSE:MDR) have earned a consensus rating of “Hold” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.41.

A number of equities analysts have commented on MDR shares. Zacks Investment Research cut shares of McDermott International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. KeyCorp reissued a “hold” rating on shares of McDermott International in a report on Friday, November 10th. Credit Suisse Group dropped their target price on McDermott International from $7.60 to $7.30 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Scotiabank reissued a “buy” rating and set a $9.00 target price on shares of McDermott International in a report on Wednesday, November 1st. Finally, ValuEngine downgraded McDermott International from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 15th.

McDermott International (MDR) traded down $0.03 during mid-day trading on Friday, reaching $7.80. 4,780,200 shares of the company’s stock were exchanged, compared to its average volume of 6,054,958. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 1.70. McDermott International has a 1 year low of $5.56 and a 1 year high of $8.33. The company has a market capitalization of $2,220.00, a PE ratio of 14.72 and a beta of 1.35.

McDermott International (NYSE:MDR) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.14. McDermott International had a net margin of 5.25% and a return on equity of 9.56%. The firm had revenue of $958.50 million during the quarter, compared to analysts’ expectations of $977.28 million. During the same period in the previous year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 71.6% compared to the same quarter last year. research analysts expect that McDermott International will post 0.52 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MDR. BlackRock Inc. lifted its holdings in shares of McDermott International by 109.1% during the second quarter. BlackRock Inc. now owns 35,201,940 shares of the oil and gas company’s stock worth $252,397,000 after buying an additional 18,363,073 shares in the last quarter. Vanguard Group Inc. raised its stake in McDermott International by 31.0% in the second quarter. Vanguard Group Inc. now owns 30,112,732 shares of the oil and gas company’s stock valued at $215,909,000 after purchasing an additional 7,129,111 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in McDermott International by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 20,930,740 shares of the oil and gas company’s stock valued at $150,072,000 after purchasing an additional 2,717,602 shares in the last quarter. State Street Corp raised its stake in McDermott International by 37.3% in the second quarter. State Street Corp now owns 8,384,938 shares of the oil and gas company’s stock valued at $60,118,000 after purchasing an additional 2,277,274 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in McDermott International by 1,009.2% in the second quarter. Ameriprise Financial Inc. now owns 2,178,983 shares of the oil and gas company’s stock valued at $15,625,000 after purchasing an additional 1,982,529 shares in the last quarter. 86.10% of the stock is owned by institutional investors.

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About McDermott International

McDermott International, Inc is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.

Analyst Recommendations for McDermott International (NYSE:MDR)

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